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Coop Pank AS results for August 2024

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Coop Pank's financial results in August 2024:

  * In August, number of the bank's clients increased by 1,800 and number of
    active clients decreased by 2 200. By the end of the month number of clients
    reached 199,500 and number of active clients reached 87,900. Over the year,
    customer base has grown by 14%.
  * Volume of the bank's customer deposits increased by 34 million euros,
    reaching 1.83 billion euros by the end of month. Deposits of corporate
    customers increased by 5 million euros and deposits of private customers
    increased by 3 million euros. The volume of deposits attracted from
    international platforms increased by 26 million euros. Over the year, volume
    of bank deposits has grown by 7%.
  * The bank's loan portfolio increased by 8 million euros and reached 1.64
    billion euros by the end of month. Home loans increased by 9 million euros,
    consumer financing loan portfolio increased by 1 million euros, leasing
    portfolio remained stable and business loans decreased by 2 million euros.
    Over the year, loan portfolio has grown by 10%.
  * In August, the loan impairment cost was 0.4 million euros.
  * Compared to the first eight months of last year, the bank's net income
    decreased by 4% and expenses have increased by 19%.
  * In August, the bank earned net profit of 2.8 million euros. In the first
    eight months of the year, the bank has earned a net profit of 23.0 million
    euros, that is 15% less than in the same period last year.
  * In August, Coop Pank's return on equity was 16.6% and the cost-income ratio
    was 49%.

Comment by Paavo Truu, Member of the Management Board and CFO of Coop Pank:

"Euribor and term deposit interest rates are moving in a clear downward trend.
Lower interest rates encourages investments, but the new growth cycle of the
Estonian economy has not yet gained good momentum. This has put companies in a
rather wait-and-see position and corporate demand for financing is moderate. The
home loan market remains active, and Coop Pank's home loan portfolio continues
to grow rapidly.

By keeping costs and revenues under control, Coop Pank achieved a decent profit
of 2.8 million euros in August. Coop Pank's return on equity was 16.6% in August
and the cost-to-income ratio was 49%.

Customer base of Coop Pank reached nearly 200,000 customers in August. The
200,000th customer joined the bank yesterday, on September 10th. The customer
base, which is growing at an accelerating pace, shows that Estonians appreciate
the advantages of a domestic bank and actively use its services."

More detailed financial reports of Coop Pank are available at:
 https://www.cooppank.ee/en/financial-reports

Coop Pank, based on Estonian capital, is one of the five universal banks
operating in Estonia. The number of clients using Coop Pank for their daily
banking reached 199,500. Coop Pank aims to put the synergy generated by the
interaction of retail business and banking to good use and to bring everyday
banking services closer to people's homes. The strategic shareholder of the bank
is the domestic retail chain Coop Eesti, comprising of 320 stores.

Additional information:
Paavo Truu
CFO
Phone: +372 5160 231
E-mail: paavo.truu@cooppank.ee (mailto:paavo.truu@cooppank.ee)